Your budget as compared to IRS standard allowances is going to determine, in part, how much you pay back to creditors over the life of your plan. The video below touches upon that notion. Jesse Barrientes: Well, you mentioned the plan payment. How do I go about paying the trustee? So assume now we have+ Read More The post How Is The Chapter 13 Payment Amount Determined? appeared first on David M. Siegel.
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Because there is additional proof needed to show undue burden, the majority of those individuals who file bankruptcy do not file the additional adversary proceeding necessary to receive a discharge. This accounts for very low number of student loan discharges given to debtors by bankruptcy courts each year. The post Student Loan Debt and Bankruptcy appeared first on Tucson Bankruptcy Attorney.
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The first important decision when filing bankruptcy is should I file? Most clients struggle with whether or not to file for bankruptcy. Even if the person has significant outstanding debt, there is still often a question as to whether or not filing bankruptcy is the right solution. People worry about their credit scores. People worry+ Read More The post Three Important Decisions When Filing Bankruptcy appeared first on David M. Siegel.
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Q: “Why Do you Want All these Forms Filed Out for our Bankruptcy Consultation?” A: “Because you and I should not play Texas hold’em.” I’ve never played Texas hold’em. But I’ve seen it on TV. Maybe you have, too. Each players has their own cards–then the cards dealt in the middle face down are turned […] The post Bankruptcy consultation shouldn’t be like “Texas Hold’em” by Robert Weed appeared first on Robert Weed.
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The Weil Bankruptcy Blog has a good posting on Goldsby v. 804 Congress, LLC, No. 12-50382 (5th Cir. 6/23/14). In short, this was a case where the Court lifted the automatic stay and a third party bid in more than the amount of the debt. The bank and the substitute trustee argued that they should be allowed to distribute the funds as provided by the deed of trust, while the Debtor contended that the Bankruptcy Court had authority over the funds. The Fifth Circuit ruled that Section 506(b) controlled over the deed of trust. However, the Court remanded for a determination of whether unreasonable fees and charges could be recovered as unsecured claims under Section 502. You can read Debra McElligott's posting here. I represented the Debtor.